News

Proposals to Tackle Offshore Tax Evasion

Legislation is intended to be introduced in the Finance Bill 2010 to provide for larger penalties for taxpayers who fail to provide a full account of their Income Tax or Capital Gains Tax liabilities, where the failure is linked to an offshore matter.

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New Penalties

A new regime to ensure harsher punishments for avoiders in addition to evaders is on the way and the outcome for those found wanting when a tax investigation or audit is carried out could now be even more severe in financial terms.

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Highlights of Emergency Budget

The new Chancellor delivered his Emergency Budget and tinkered a little bit with tax and associated issues. What was absolutely clear was that this Government will continue the increased pressure on tax evaders that the New Labour team introduced and may

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Amnesty or Revenue Trap – OffShore Disclosure Initiative

H M Revenue & Customs has been very busy since it offered its last Amnesty in 2007 and has collected a large amount of information from a wide range of banks and financial institutions. Comparatively few people took advantage of that amnesty and Tax Inv

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